M1 Finance vs Charles Schwab | Best Commission Free Brokerage? #Best Education Page #Online Earning

- So, in this video today

we're going to be comparing

two popular brokerages out there.

Number one being M1 Finance

which is like the newcomer on the block here.

And then, number two,

the old faithful being Schwab, or Charles Schwab.

Now, in the past, these two,

there was a big difference between them,

back when Charles Schwab was charging commissions

and M1 Finance was obviously offering

commission-free trading.

However, recently, Charles Schwab made the announcement

that they are going totally commission-free

to compete with a lot of these new up-and-coming brokerages.

So, that being said,

now that it's a more level playing field,

what are the differences

between M1 Finance and Charles Schwab?

Now, before I get into the video,

I just wanna mention two things really quick.

Number one, if at the end of the video,

you do decide to sign up for M1 Finance,

I am affiliated with them

and if you do use my link,

I earn a small commission in the process.

Your use of that link is not required,

but it is certainly appreciated,

as it's a way to give back to me,

at no additional cost to you,

for putting this video together.

And I also just wrapped up a completely free

30-minute video training showing you step by step

how to get started with M1 Finance

and how to use M1 Finance as a complete beginner.

Both of those are linked up down in the description below

for your convenience.

But that being said,

the first biggest difference here

between Schwab and M1 Finance

is the minimum amount of money to begin investing.

So, with M1 Finance,

it is 100-dollar minimum to open a brokerage account

or 500-dollar minimum,

if you're looking to open up a retirement account,

while Schwab has a zero-dollar minimum.

They used to have a much higher minimum

but again, because they were looking to be more competitive

with these free and up-and-coming platforms,

they lowered that to a zero-dollar minimum.

M1 Finance is completely commission free

and so is Charles Schwab,

so, you don't pay any kind of commission

for placing trades, for stocks, ETFs, and et cetera,

the different assets that these offer.

One big difference here

between M1 Finance and Charles Schwab

is that M1 Finance only offers one trading window per day.

So, if you're looking to place trades,

you have one opportunity in the given day

where those trades are all placed in bulk,

and that is a way for them to cut down on trading costs,

while Charles Schwab has an open trading window,

so, you can trade at any point in time

during the open market hours.

Another difference here

is the types of assets you can trade.

With M1 Finance, you can trade stocks and ETFs.

And with Charles Schwab, you can trade stocks, ETFs,

as well as options contracts, futures and mutual funds,

giving you a greater variety,

if you are interested in those particular assets.

Beyond that, they are pretty similar,

as far as what they're offering here.

M1 Finance does offer over 30 expert pies

that are built by investing experts

that you can automatically invest in.

Again, fee free.

And this is open to anybody who has an M1 Finance account.

Charles Schwab does have something similar,

called Schwab intelligent portfolios,

which is a free robo-advisor.

The only issue is Schwab intelligent portfolios

is reserved for people with $5,000 or more invested.

So, if you do wanna have that kind of guidance

with your investments with Schwab,

it is going to be a minimum of $5,000

to get that type of guidance from them,

whereas you can invest in the M1 Finance expert pies

at any point in time,

you don't have to meet any kind of minimum requirement.

As far as dividend reinvestment,

with M1 Finance,

you have that portfolio level dividend reinvestment.

So basically, as you earn dividends,

those dividends go towards your cash balance

and once that cash balance exceeds $10,

that money is invested

across your entire M1 Fiance pie or portfolio.

Charles Schwab offers stock level dividend reinvestment,

where the dividend earned can go right back

into the issuing stock.

Now, one key differentiator between these two

was the fractional shares,

as M1 Finance does offer fractional shares.

However, Charles Schwab just announced

that they will very soon be offering fractional shares

as well on the platform.

And both M1 Finance and Charles Schwab

offer tools for automated rebalancing of portfolios.

So, that being said, what are the differences here?

The main differences here

are the fact that with M1 Finance,

you do have access to those expert pies,

regardless of how much you invest in,

and that includes target date retirement funds,

stock and bond locations,

and a couple of different categories.

Charles Schwab does offer free guidance

with what to do with your investments

through the Schwab intelligent portfolios,

but it comes at a 5,000-dollar minimum.

You do have access to additional assets with Charles Schwab

that you don't have with M1 Finance,

being the options, the futures and the mutual funds

and Schwab does have a better research platform

because they've been doing this for a lot longer than M1

and there's a lot of tools and research data

available to you as an investor.

And because of that open trading window,

if you are looking to actively trade in and out of stocks

and you wanna trade at certain points during the day,

that is an advantage you have,

whereas with M1 Fiance,

you just have that one-day trading window.

Now, because Charles Schwab packs so much

into their platform,

it may be a little bit overwhelming for a complete beginner,

so, I would say that M1 Finance is more beginner-friendly.

But at the end of the day,

they're offering a very similar service here now,

which is completely free investing with some great tools

to help you automate the investing process.

So, it's gonna come down to what platform

you are more comfortable and familiar with.

And so. I would even recommend taking a look at both of them

and then you can always decide

which one is a better fit for you.

They're both completely free

so, you don't really have much to lose

if you wanted to tinker around with both of them.

But that being said,

the expert pies is definitely a key differentiator right now

that will set M1 Finance slightly ahead of Charles Schwab

by offering those expert portfolios

regardless of the amount of money that you are investing.

But anyways, guys,

that is the difference between Schwab and M1 Finance.

I hope you guys enjoyed this

and I hope this helps you to make a decision.

As I mentioned,

all those links are down in the description below.

And thank you guys so much for watching

and I will see you in the next video.

#Best Education Page #Online Earning

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